Mortgage Broker Broadcast

The Transformative Power of Reflection in Mortgage Broking

• Craig Skelton • Season 6 • Episode 5

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Ever wonder how a simple habit like reflection can revolutionise your mortgage brokerage business? Discover the hidden potential of consistent review practices and how they can transform both your professional growth and personal development. I'm Craig Skelton, and today we're peeling back the layers on the importance of taking a step back to evaluate your year's wins and hurdles. As the fast-paced world of mortgage brokerage beckons, I'll share practical tips on making reflection a seamless part of your routine to enhance decision-making, maintain focus, and avoid burnout.

As we gear up for 2025, it's about running your own race with determination and seeking the right support to reach those ambitious goals. Whether you're a seasoned broker or just starting, reflection can be your key to unlocking new heights. 

Stay tuned for insights from industry experts like Dave Coleman, who will be joining us next week to share his outlook for the coming year. Remember, your success story is just a reflection away, so subscribe, leave a review, and spread the word to anyone looking to thrive both in business and mindset.

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Speaker 1:

Hi and welcome to this week's the Mortgage Broker broadcast. I'm Craig Skelton and this week, as we get towards the end of the year, we're gonna be talking today about one of the most powerful tools in your self-employed toolkit. I'm talking about reviewing and reflecting, and, as we prepare for the year ahead, it's critical to take a step back and truly assess what worked, what didn't work and how we can improve, moving forward. For those tuning in for the first time, I'm your host, craig Skelton, and I have my own mortgage broker firm and I'm also a mentor and a coach of mortgage brokers and business owners, and this podcast is here to help brokers and business owners like you thrive, not just in business, but in your mindset and approach to success too. And today's episode is all about pausing to reflect on where you've been so you can plan where you're going to be going, moving forward. First of all, if you enjoy this podcast, please subscribe, leave a review and share it with your fellow brokers. Your support helps us reach even more self-employed mortgage brokers and business owners who can benefit from this weekly podcast.

Speaker 1:

And in this week's podcast, in this episode, we're going to explore why reviewing and reflecting on the past year is essential before planning for next year the benefits of regular reflection at least once a week, and the consequence of skipping this crucial practice too. So we're going to get into strategies and actionable tips to make reflection a cornerstone of your success. First of all, let's just look why reflection is gaining so much traction in business ownership right now. So over the past few years, reflection has become like a bit of a buzzword in business leadership. Business owners are dedicating time to reflect, analyze and then refine their strategies, and it's not just about annual reviews anymore or quarterly reviews. Weekly reflections are being credited as game changers for productivity and focus, and for mortgage brokers this is especially relevant. Our industry is very fast-aced, very fast changing, but by taking even 15 minutes each week to assess your wins, your challenges and areas from improvement can lead to more clarity, better decision making and, ultimately, more success.

Speaker 1:

So let's get into the heart of today's discussion the power of reviewing and reflecting, both annually and regularly. So the first point is why reviewing the past year is essential before planning the next year. Let's start with the big picture, the year in review. The end of the year isn't just a time for celebrations. It's a real big opportunity to sit down and analyse what you've accomplished this year. Be asking yourself what goals did I set out at the start of the year? Did I achieve them? What went well and why? What challenges did I face and how did I set out at the start of the year, did I achieve them? What went well and why, what challenges did I face and how did I handle them?

Speaker 1:

Reviewing your year isn't about beating yourself up for what didn't go right. It's about identifying patterns, trends, learning lessons and celebrating your progress, no matter how small they are. So, example maybe you didn't hear your exact income target, but you built stronger client relationships that set you up for growth for next year. That's a win worth recognizing. That moves on to the second point of the benefits of regular reflection. So I'm talking about at least once a week. Annual reviews are important Absolutely.

Speaker 1:

Reflection shouldn't just happen, though, once a year. It's in fact, the most successful mortgage brokers and business owners that I know make it now a weekly habit to review and reflect, and why. First of all, it helps you stay on track. Weekly reviews allow you to course correct before small issues begin to snowball into massive problems. It also helps you celebrate wins. Taking time to acknowledge your progress keeps you motivated and focused. It also helps refine your approach. You can experiment with different strategies and quickly determine what's working. A simple way to start is by asking yourself three questions every single Friday what went well this week, what didn't go as planned and what will I do differently next week?

Speaker 1:

Now let's talk about the consequence of skipping reviews and reflection. What happens when you don't make time to review and reflect? The first thing is you get lack of clarity. Without reflection, it's easy to lose sight of your goals and your priorities. You might find yourself working hard but not making real progress. It also can help. It can also lead to burnout. When you're constantly in go mode without pausing to assess what's been going on, you risk burning out. Reflection gives you a chance to recharge and realign, and also by not analysing what's working you might miss out on by not analysing what's working. And also as well, by not analysing what's working, you might miss out on doubling down on successful strategies or addressing areas that need improvement. So how do you build reflection into routines? So building a habit of reflection doesn't have to be complicated.

Speaker 1:

There's a number of things that you can do. First thing you do is set a weekly appointment. Block out your diary for 15 15 minutes, half an hour, into your diary, into your calendar each week. Treat it as a non-negotiable. You can also then use a journal. So, once that's in your diary, you can then use a journal or some software tool whether it's like a notebook, a digital app or even just a voice memo, it doesn't really matter. Find a method that works for you or record it somewhere. It doesn't really matter. And you also need to be asking yourself the right questions. Focus on the insights that will help you grow. Remember, reflection is a skill. The more you practice it, the more valuable your insights will become. So, as an example, you could set aside time every single Friday to review your week and over the course of the year you'll notice patterns and trends within your business, patterns and trends that you can act on and benefit from by changing your plans and tweaking your plans as moving forward. By reflecting regularly, you're able to adjust your strategy and focus on things that are working for you.

Speaker 1:

And I know what you might be thinking how do I make time for reflection when I'm already so busy? But the thing is, you can't afford not to make time for reflection. It's about gaining a better understanding of your business. Taking 15 minutes if it is just 15 minutes a week just to reflect can save you hours on wasted time and effort down the line. And it's okay to start small. Start with five minutes a week, 10 minutes a week, 15 minutes a week Just start and then build from there so you might have got that time booked in.

Speaker 1:

And another question is how do I know that I'm reflecting on the right things? So my advice with that is to focus on what's aligned with your goals and your plans and what you want to achieve. So, for example, if client retention is a priority, reflect on what you're doing to nurture those relationships. If lead generation is your focus, then analyze what's working and what's not. So just to summarize, review and reflect on the past year before you start planning on the next one. It's the only way to build on your success and learn from your challenges.

Speaker 1:

The second point is make reflection a weekly habit. Regular check-ins keep you aligned with your goals and help you change course quickly if you need to. And the last point is don't skip on this practice. Lack of clarity and missed opportunities are inevitable consequences when you don't review and reflect. So just to close, today we've explored the power of reviewing and reflecting and why it's essential for year-end planning, how weekly reflection can transform your business and the consequence of neglecting this practice. And just remember success isn't just about working harder, it's about working smarter, and reflection is a key to that. So that's it.

Speaker 1:

That's this week's Mortgage Broker Broadcast, talking about the importance of review and reflection. Next week, we've got Dave Coleman. It's the last episode of the year, last episode of 2024. So we've got Dave Coleman coming up next week talking about his take on 2025. Thanks for listening. Thanks for watching this week's Mortgage Broker Broadcast. If you found today's episode helpful, please subscribe, leave a review and share it with anyone you think could benefit from listening to today's episode. If you're considering becoming a self-employed mortgage broker, looking to start your own mortgage broker brand and business, or looking to accelerate the growth of your existing business, visit my website, craigskeltoncouk, schedule a discovery call or just get in touch and let's explore how I can support you in achieving your goals for 2025. Stay motivated, stay focused, stay positive and don't forget to run your own race.